Chennai:
Tamil Nadu government is considering the proposal by
Confederation of Real Estate Developers' Associations of India (CREDAI) to
convert IT building into non-IT purpose.
CREDAI national secretary T Chitty
Babu told Express on Wednesday that the proposal to convert IT building into
non-IT purpose was made following slump in the IT sector.
“There were no takers for IT
buildings that were constructed and these had been lying vacant in various
places of the city including Old Mahabalipuram Road and Ambattur,” he said. It
is believed the city has over five million square feet of commercial space in
IT buildings.
Babu said IT buildings were constructed
due to incentives given by the state government to builders to promote IT. The
state government’s liberal sops by way of increased FSI at 3.75 for IT
buildings encouraged builders. Now these buildings are lying vacant due to lack
of tenants. So we have submitted a representation to housing and urban
development minister to look into the issue,” Chitty Babu said.
Interestingly, the proposal is
pending with the Housing and Urban Development Ministry after Chennai
Metropolitan Development Authority submitted its report to the government a few
months ago over the issue.
Sources said as the premium floor
space index provisions has been made in the development regulations, allowing
excess FSI area can be considered by government on collection of premium FSI
charges as prescribed by development regulations even in cases where it exceeds
the maximum allowable premium FSI limit.
However, there has been opposition
to this move by town planning experts
who claim such a move will be detrimental and seek the abolition of premium FSI
concept.
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